AMN Healthcare Services (NYSE:AMN) Shares Down 6.6% – Here’s Why

AMN Healthcare Services Inc (NYSE:AMN) shares dropped 6.6% on Tuesday . The company traded as low as $34.35 and last traded at $34.1950. Approximately 85,493 shares traded hands during trading, a decline of 92% from the average session volume of 1,134,370 shares. The stock had previously closed at $36.60.

Wall Street Analyst Weigh In

AMN has been the topic of several analyst reports. Zacks Research lowered shares of AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Citigroup restated a “market outperform” rating on shares of AMN Healthcare Services in a research note on Tuesday, June 23rd. Truist Financial upped their target price on shares of AMN Healthcare Services from $26.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. BMO Capital Markets raised their target price on shares of AMN Healthcare Services from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a report on Sunday. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, AMN Healthcare Services currently has a consensus rating of “Hold” and an average target price of $30.86.

AMN Healthcare Services Trading Down 7.4%

The company has a market cap of $1.31 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 0.83 and a beta of 0.40. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average price is $32.65 and its 200-day moving average price is $25.25.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.58. The business had revenue of $673.24 million for the quarter, compared to analyst estimates of $628.39 million. AMN Healthcare Services had a net margin of 3.06% and a return on equity of 19.92%. AMN Healthcare Services’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 EPS. On average, equities analysts anticipate that AMN Healthcare Services Inc will post 2.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark G. Foletta sold 3,681 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $31.07, for a total value of $114,368.67. Following the completion of the sale, the director directly owned 17,917 shares in the company, valued at $556,681.19. The trade was a 17.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of AMN Healthcare Services by 41.8% during the second quarter. Versant Capital Management Inc now owns 1,170 shares of the company’s stock worth $38,000 after buying an additional 345 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of AMN Healthcare Services in the fourth quarter valued at approximately $32,000. China Universal Asset Management Co. Ltd. raised its position in shares of AMN Healthcare Services by 200.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,000 shares of the company’s stock valued at $47,000 after buying an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of AMN Healthcare Services by 49.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company’s stock valued at $64,000 after buying an additional 1,020 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in AMN Healthcare Services during the third quarter worth approximately $63,000. Institutional investors own 99.23% of the company’s stock.

About AMN Healthcare Services

AMN Healthcare Services, Inc (NYSE: AMN) is a leading provider of healthcare workforce solutions in the United States. The company specializes in staffing and recruitment services for a broad range of clinical and allied health professionals, including travel nurses, permanent placement of nursing staff, locum tenens physicians, and allied health personnel. In addition to direct staffing, AMN Healthcare offers comprehensive workforce management solutions such as vendor management systems (VMS), recruitment process outsourcing (RPO), and compliance and credentialing services through its technology platforms.

Founded in 1985 as American Mobile Nurses, the company rebranded to AMN Healthcare in 2010 to reflect its expanding portfolio of services.